Doha: Qatar Investment Authority (QIA) said on Tuesday it was committing up to 1 billion riyals ($275 million) towards a permanent market-making program that will enhance liquidity on the local bourse.

The sovereign wealth fund, which manages $445 billion in assets, said the commitment is set to run over the next five years and will cover 90% of the size of the market capitalisation listed on the Qatar Stock Exchange (QSE).

The program will also help improve price discovery and diversify capital markets in the country, which would help the market attract foreign asset managers into Qatar.

QSE is working to attract a greater number of listings, introduce more ETFs, improve ESG disclosures and derivatives to help investors diversify their portfolios and better manage their investment risks. ​

(Writing by Brinda Darasha; editing by Seban Scaria)